Schaeffer's Trading Floor Blog

Midday Market Stats: Dow Jones Industrial Average Erases Early Gains, Heads South

magicJack VocalTec Ltd soars, while Yandex NV sinks

by 3/13/2014 11:59 AM
Stocks quoted in this article:

After moving higher in early trading, the Dow Jones Industrial Average (INDEXDJX:.DJI) has reversed course, despite weekly jobless claims unexpectedly falling and February retail sales beating estimates. In other economic news, import prices rose more than anticipated last month, and January business inventories finished in line with the consensus view. At last check, the DJI was 87.7 points, or 0.5%, lower at 16,252.41.

Here are a few noteworthy stats at midday:

  1. The equity put/call volume ratio across all 12 options exchanges checks in at 0.81, with calls outpacing puts. Currently, 3.02 million calls are on the tape, versus 2.46 million puts.

  2. Among the equities with notable call volume is magicJack VocalTec Ltd (NASDAQ:CALL), which has seen more than four-fifths of its options volume trade on the call side. At midday, the shares are up 20% at $21.05 -- and touched a new annual high of $22.90 earlier -- after last night's successful turn in the earnings confessional, and this morning's price-target hike (to $24 from $17) at Canaccord Genuity.

  3. The Nasdaq Exchange shows an advance/decline ratio of 0.59, with declining stocks nearly doubling advancers.

  4. One of the Nasdaq's big losers today is Russian Internet concern Yandex NV (NASDAQ:YNDX), which has slumped nearly 6% to $29.99 amid continued geopolitical tensions in Ukraine.

  5. The CBOE Volatility Index (VIX) is up 0.5 point, or 3.7%, to 15.01, after spending the first half of the morning in the red.

  6. The put/call volume ratio on the iPath S&P 500 VIX Short-Term Futures ETN (NYSEARCA:VXX) -- up 0.7% at $44.62 -- registers at 1.01, with put volume and call volume running at roughly identical rates.

View a real-time chart of the Dow Jones Industrial Average (INDEXDJX:.DJI).

Unusual Option Volume at Midday


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